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Apple on Thursday announced sales and earnings that exceeded Wall Street expectations, as CEO Tim Cook said China’s sales “were going in the right direction” as the country’s economy reopened after the new Corona virus.
But Cook added that it is impossible to predict overall results for the current quarter due to the uncertainty caused by the virus.
In light of its global nature, a limited number of US companies were exposed to the spread of Corona, such as Apple, whose iPhone sales declined in the quarter ending March, as the company had to sell devices over the Internet. only in many places. Sales of services like TV broadcast content increased, with billions of people remaining in their homes. China, where the virus was first discovered, is a big market for “Apple”, which accounts for about a sixth of its overall sales, and also includes most of the factories contracted with “Apple”.
And Apple posted China sales of $ 9.46 billion, a decrease of less than $ 1 billion compared to the same period last year, in a possible indication of how the company will meet in the rest of the markets outside of the general isolation measures.
And Apple announced sales of $ 58.3 billion and earnings of $ 2.55 per share in its second fiscal quarter ending March, which is more than the previous year’s results of $ 58 billion and $ 2.46, and exceeds expectations by analysts of $ 54.5 billion and $ 2.27 according to Refinitiv’s I / B / E / S data. Apple’s stock performance, which closed higher at more than 2%, fluctuated, after the results, to decrease by 1.7% after posting a slight increase earlier in extended trading.
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